Moldova's National Commission for Financial Markets (CNPF) adopted a package of capital markets and consumer-protection measures, approving new requirements for shareholder identification and issuer communications through the intermediary chain and endorsing amendments to the rules of the Central Securities Depository (DCU) that underpin a move to T+1 settlement from September 2026. The Board also took issuer-register decisions and concluded supervisory actions affecting an insurer and several currency exchange units. The shareholder regulation transposes EU Regulation 2018/1212 and sets a framework for identifying shareholders, transmitting information along the chain of intermediaries and facilitating the exercise of shareholder rights, including standardized communication formats and interoperability. It is set to enter into force upon publication in Moldova’s Official Monitor, while DCU and other intermediaries will have 24 months to develop the IT systems needed for fully automated processing and data exchange under the provisions on automatic data exchange. Separately, the CNPF endorsed amendments to DCU’s rules covering settlement of trades on the regulated market and a multilateral trading facility, including the option to settle exchange trades into an investor account, a participant’s proprietary account or an omnibus account, rules on links with other central securities depositories, enhanced settlement risk management measures and minimum requirements for service quality and availability. On market operations, the CNPF removed from the securities issuers register the shares of “VIERUL-INCOM” (128,942 registered ordinary shares) following liquidation, registered an additional share issue by “DRUMURI-COMRAT” of MDL 1,977,000 (197,700 registered ordinary shares) funded by non-cash contributions and registered a restructuring of “MODERN-SERVICE” involving an increase of nominal value per share from MDL 10 to MDL 16 and a share-capital increase of MDL 227,178 from own capital. On supervision, it rejected a preliminary complaint by ÎM CA “GRAWE CARAT ASIGURARI” SA challenging an earlier CNPF decision, and approved results of an unannounced inspection of 48 currency exchange units that found legal breaches at seven locations relating mainly to how rates were displayed and discrepancies between displayed and applied exchange rates; the CNPF ordered the cessation of unfair commercial practices and will initiate legal proceedings under the Contravention Code.
National Commission for Financial Markets 2025-11-14
Moldova's National Commission for Financial Markets approves shareholder identification rules and confirms shift to T+1 securities settlement from September 2026
Moldova's National Commission for Financial Markets adopted measures for capital markets and consumer protection, including new shareholder identification requirements and amendments to Central Securities Depository rules for T+1 settlement by September 2026. The Commission also made issuer-register decisions, including share removals and registrations, and concluded supervisory actions against an insurer and currency exchange units for legal breaches.